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Wednesday 23 December 2020

Retail records

Retail breaks records

Retail turnover exploded in November, up another 7 per cent to an all-time high of $31.62 billion.

Turnover ripped higher as Victoria reopened, and was pumped along by Black Friday sales. 

Turnover is now tracking some 14 per cent higher than a year earlier, and at absolutely unprecedented levels. 

Extraordinary numbers as the stimulus kicks into gear and Aussie dollars remain trapped at home.

It increasingly looks as though Australia suffered an intermission, rather than a real recession in 2020. 

The final hurdle is how to reopen the international borders, with immigration and international students currently switched off, and potentially tens of thousands of Aussie expats stranded overseas.